Some Considerations regarding the Use of the Game Theory in International Commercial Negotiations
Some Considerations regarding the Use of the Game Theory in International Commercial Negotiations

Summary/Abstract: The complexity of contemporary economic life, the increase in the number of negotiation partners located in large and diversified geographic areas, the possibility of choosing from a larger number of trade protection measures, tightening competition, differences and limitations in their use, lead to considerable growth the importance of international dialogue, negotiation between stakeholders on the basis of negotiation. A specific area of international negotiations is the negotiations within the International Trade Organization (WTO) on tariff and non-tariff protection measures on the agricultural commodity market. The article describes the way in which gambling theory can be used in such negotiations, starting with the intensification of commercial protectionism lately, presenting a model of negotiation between the three major players in world trade (US, EU and China).

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